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Petrobras: First Annual Profit in 5 Years

Feb 28, 2019

Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates.In a securities filing…

Partners Eye Conoco's North Sea Assets

Feb 28, 2019

Italy's Eni has teamed up with private equity firm HitecVision to bid against Chrysaor for ConocoPhillips' North Sea oil and gas assets, sources close to the process said.Conoco relaunched the sale process in recent weeks after energy and chemicals firm Ineos…

Naviera Tramarsa Adds Another ROV

Feb 28, 2019

Offshore operator Naviera Tramarsa has extended its subsea vehicle fleet with a new Cougar XT remotely operated underwater vehicle (ROV) from manufacturer Saab Seaeye.The 2,000m rated Cougar XT will enter operations in May 2019, joining the company’s Saab Seaeye Falcon ROV…

Saipem Expects Higher Sales This Year

Feb 28, 2019

Italian oil services group Saipem said on Thursday it expected higher sales this year after beating 2018 forecasts and said it was looking for market opportunities.The group, jointly controlled by oil major Eni and state lender Cassa Depositi e Prestiti…

Subsea 7 Profit Beats Forecast

Feb 28, 2019

Subsea 7 posted higher-than-expected fourth-quarter profits on Thursday and announced a special dividend payment as well as an extension of its share buybacks.The Oslo-listed offshore services provider's adjusted earnings before interest, tax…

Repsol Net Profit Up 7.5%

Feb 28, 2019

Spanish oil and gas firm Repsol beat forecasts with a 7.5 percent increase in fourth-quarter adjusted net profit on Thursday, boosted by higher oil and gas prices and increased production, and said its strategic plan was on track.Repsol started new projects in Algeria…

Pemex Posts $6.4 Billion Q4 Loss

Feb 27, 2019

Mexican state oil company Pemex reported a loss of 125.5 billion pesos ($6.4 billion) for the fourth quarter on Wednesday, narrowing its loss from the same period in 2017, as the firm's finances face renewed scrutiny following a credit downgrade last month…

Transocean: Ultra-deepwater Drilling Rates Could Double

Feb 27, 2019

Rates for hiring offshore rigs to drill in ultra deepwaters such as the U.S. Gulf of Mexico could double over the next couple of years as the market recovers, the head of the world's largest offshore driller by market capitalisation said on Wednesday…

Golar to Supply FLNG for BP

Feb 26, 2019

Golar LNG Limited announced Tuesday that its newly incorporated subsidiary Gimi MS Corporation has entered into a 20-year Lease and Operate Agreement (LOA) with BP for the charter of a floating liquefied natural gas (FLNG) unit, Gimi, to service…

Seadrill Eyes Brighter Rig Market

Feb 26, 2019

Seadrill's core earnings for the fourth quarter exceeded the company's own guidance, boosted by lower costs and one-off items, while the market outlook for drilling rigs was improving, the Oslo and New York-listed firm said on Tuesday.The company…

Fugro Sees Margin Improvement in 2019

Feb 25, 2019

Dutch deep-sea prospector Fugro reported on Monday a 19.2 percent rise in full-year 2018 revenue to 1.65 billion euros ($1.87 billion), helped by growth across all divisions.The company met its 2018 revenue and EBIT (earnings before interest and tax) margin targets…

Hiring Uptick on the Horizon

Feb 22, 2019

Headcounts in the upstream oil and gas industry have dropped significantly since the downturn started in 2014, but NES Global Talent sees promise of recovery ahead.“We have seen a number of projects which have been in the pipeline for quite…

Shell Shrugs off Brexit, Eyes UK Offshore Wind

Feb 22, 2019

Shell plans to enter Britain’s offshore wind market by acquiring seabed leases or taking stakes in existing projects, despite the country's impending departure from the European Union, the head of the company's New Energies division said.Oil…

Citgo's New Board Arrives, to Hold First Meeting

Feb 21, 2019

A board of directors appointed this month by Venezuela's opposition-controlled congress to run state-owned oil firm PDVSA's U.S. unit Citgo Petroleum on Thursday was arranging its first meeting at the company's headquarters, according with two people familiar with the matter…

N-Sea Scores North Sea Contracts

Feb 21, 2019

UK and Netherlands-based subsea provider N-Sea said it has been awarded two multimillion dollar contracts for a pair of unnamed operators in the North Sea.Managed and supported by N-Sea’s Aberdeen base, the first is a three-year contract, awarded by an international operator…

Current News

OGA Grows Collaboration with Renewables

OGA Grows Collaboration with Renewables

Gardline Surveying for i3

Gardline Surveying for i3

Archer CEO Lechner Resigns

Archer CEO Lechner Resigns

Aker BP Restructures Safe Scandinavia Options

Aker BP Restructures Safe Scandinavia Options

Mexico Could Pay Pemex Debt from Stabilization Fund

Mexico Could Pay Pemex Debt from Stabilization Fund

Decommissioning Activity High

Decommissioning Activity High

Nigeria Aims to Cut National Oil Company Shareholding

Nigeria Aims to Cut National Oil Company Shareholding

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